Bernstein Sanford C Fund Ii NPORT-P Bernstein Intermediate Duration Institutional Portfolio (Jun 2024 report)

Sanford C. Bernstein Fund II, Inc.

Schedule of Investments

Intermediate Duration Institutional Portfolio

June 30, 2024 (unaudited)

	Principal Amount (000)		U.S. $ Value
GOVERNMENTS - TREASURIES – 35.7%
United States – 35.7%
U.S. Treasury Bonds 1.25%, 05/15/2050(a)	U.S.$	4,577	$	2,284,409
1.875%, 02/15/2051		876		515,296
2.00%, 08/15/2051		9,349		5,654,926
2.25%, 08/15/2046		681		456,404
2.25%, 08/15/2049		15,570		10,127,798
2.25%, 02/15/2052		1,672		1,071,978
2.375%, 11/15/2049		4,905		3,277,153
2.50%, 02/15/2046		932		659,972
2.50%, 05/15/2046		5,327		3,762,264
2.875%, 08/15/2045		51		39,209
2.875%, 11/15/2046		387		291,943
2.875%, 05/15/2052		2,950		2,176,012
3.00%, 11/15/2044		200		156,702
3.00%, 05/15/2045		129		100,330
3.00%, 11/15/2045		363		282,636
3.00%, 05/15/2047(b)		1,447		1,112,833
3.00%, 02/15/2048		5,490		4,200,708
3.125%, 08/15/2044		50		40,125
3.25%, 05/15/2042		1,539		1,285,713
3.375%, 08/15/2042		6,591		5,590,331
3.375%, 05/15/2044		646		540,085
3.50%, 02/15/2039		8,105		7,313,496
3.625%, 08/15/2043		1,943		1,695,313
3.625%, 02/15/2044		38		33,048
3.625%, 02/15/2053		2,798		2,395,265
3.625%, 05/15/2053		4,008		3,432,048
3.75%, 11/15/2043		295		261,813
3.875%, 02/15/2043		3,999		3,628,820
3.875%, 05/15/2043		999		905,006
4.00%, 11/15/2042		5,931		5,488,585
4.125%, 08/15/2053		3,432		3,216,053
4.25%, 02/15/2054		5,131		4,916,427
4.375%, 02/15/2038		899		899,543
4.375%, 11/15/2039		10,740		10,656,094
4.375%, 08/15/2043		7,123		6,904,761
4.50%, 02/15/2036		1,074		1,095,276
4.50%, 02/15/2044		5,053		4,978,390
4.75%, 02/15/2037		1,525		1,586,000
4.75%, 11/15/2043		7,167		7,292,728
4.75%, 11/15/2053		4,499		4,679,351
U.S. Treasury Notes 2.625%, 02/15/2029(a)		7,284		6,756,188
3.50%, 04/30/2028(a)		8,269		8,001,066
3.75%, 12/31/2028		18,838		18,369,798
3.875%, 11/30/2027		14,732		14,455,382
3.875%, 12/31/2027		7,359		7,220,921
4.00%, 02/29/2028(a)		3,062		3,016,450
4.00%, 02/15/2034		3,119		3,035,469
4.125%, 09/30/2027		4,748		4,695,970
4.125%, 10/31/2027		3,016		2,983,210
4.125%, 03/31/2029		13,414		13,288,541
4.25%, 02/28/2029		16,977		16,913,535
4.375%, 11/30/2028		6,169		6,171,692
4.50%, 11/15/2033		13,172		13,322,041

1

	Principal Amount (000)		U.S. $ Value
4.625%, 09/30/2028	U.S.$	8,685	$	8,763,203
4.875%, 05/31/2026		5,476		5,487,023
4.875%, 10/31/2028		15,016		15,307,241
Total Governments - Treasuries (cost $290,164,693)				262,792,574
CORPORATES - INVESTMENT GRADE – 21.4%
Industrial – 10.4%
Basic – 0.6%
Freeport Indonesia PT 4.763%, 04/14/2027(c)		324		317,151
Glencore Funding LLC 5.338%, 04/04/2027(c)		1,418		1,415,462
6.50%, 10/06/2033(c)		390		407,398
Nexa Resources SA 6.75%, 04/09/2034(c)		441		445,233
WRKCo, Inc. 4.00%, 03/15/2028		1,732		1,657,870
				4,243,114
Capital Goods – 0.6%
Boeing Co. (The) 3.25%, 02/01/2028		232		212,465
3.625%, 02/01/2031		280		245,045
5.15%, 05/01/2030		248		238,095
6.298%, 05/01/2029(c)		392		397,500
6.528%, 05/01/2034(c)		563		576,371
CNH Industrial Capital LLC 3.95%, 05/23/2025		1,191		1,173,302
Regal Rexnord Corp. 6.05%, 02/15/2026		1,381		1,387,076
Westinghouse Air Brake Technologies Corp. 3.20%, 06/15/2025		270		263,358
				4,493,212
Communications - Media – 0.9%
Charter Communications Operating LLC/Charter Communications Operating Capital 2.25%, 01/15/2029		537		459,345
5.125%, 07/01/2049		467		359,333
6.10%, 06/01/2029		999		1,002,666
Discovery Communications LLC 5.20%, 09/20/2047		509		395,157
Prosus NV 3.061%, 07/13/2031(c)		1,862		1,543,133
3.257%, 01/19/2027(c)		489		456,506
3.68%, 01/21/2030(c)		220		195,181
Tencent Holdings Ltd. 3.24%, 06/03/2050 (c)		1,022		665,659
Time Warner Cable LLC 4.50%, 09/15/2042		505		370,448
Warnermedia Holdings, Inc. 4.279%, 03/15/2032		1,826		1,593,331
				7,040,759

2

	Principal Amount (000)		U.S. $ Value
Communications - Telecommunications – 0.2%
AT&T, Inc. 4.50%, 05/15/2035	U.S.$	408	$	375,674
5.40%, 02/15/2034		574		574,017
T-Mobile USA, Inc. 3.875%, 04/15/2030		352		329,075
				1,278,766
Consumer Cyclical - Automotive – 1.2%
Cummins, Inc. 5.15%, 02/20/2034		1,807		1,809,548
Ford Motor Co. 3.25%, 02/12/2032		1,299		1,074,767
Ford Motor Credit Co., LLC 2.70%, 08/10/2026		215		201,977
6.125%, 03/08/2034		526		521,113
General Motors Co. 6.125%, 10/01/2025		278		279,415
General Motors Financial Co., Inc. 5.75%, 02/08/2031		1,837		1,841,721
Harley-Davidson Financial Services, Inc. 3.05%, 02/14/2027(c)		1,664		1,561,015
5.95%, 06/11/2029(c)		131		130,531
Hyundai Capital America 5.25%, 01/08/2027(c)		443		441,122
5.30%, 03/19/2027(c)		513		511,810
6.10%, 09/21/2028(c)		871		894,142
				9,267,161
Consumer Cyclical - Entertainment – 0.1%
Hasbro, Inc. 6.05%, 05/14/2034		450		449,158
Consumer Cyclical - Other – 0.4%
Las Vegas Sands Corp. 3.90%, 08/08/2029		1,133		1,035,596
Marriott International, Inc./MD 4.90%, 04/15/2029		1,017		1,006,179
5.30%, 05/15/2034		335		328,772
MDC Holdings, Inc. 6.00%, 01/15/2043		968		1,017,610
				3,388,157
Consumer Cyclical - Restaurants – 0.2%
Starbucks Corp. 4.85%, 02/08/2027		1,837		1,827,521
Consumer Cyclical - Retailers – 0.3%
Ross Stores, Inc. 4.70%, 04/15/2027		1,925		1,898,724
Tapestry, Inc. 7.70%, 11/27/2030		38		39,669
				1,938,393

3

	Principal Amount (000)			U.S. $ Value
Consumer Non-Cyclical – 2.1%
Altria Group, Inc. 3.40%, 05/06/2030		U.S.$	1,745	$	1,577,724
BAT Capital Corp. 2.259%, 03/25/2028			2,084		1,866,868
Bayer US Finance LLC 6.125%, 11/21/2026(c)			340		343,546
Cargill, Inc. 5.125%, 10/11/2032(c)			835		833,305
Cencosud SA 5.95%, 05/28/2031(c)			363		364,475
CVS Health Corp. 5.70%, 06/01/2034			1,305		1,301,307
General Mills, Inc. 4.70%, 01/30/2027			496		489,894
Imperial Brands Finance PLC 5.875%, 07/01/2034(c)			1,460		1,431,472
JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL 6.75%, 03/15/2034(c)			784		829,268
Ochsner LSU Health System of North Louisiana Series 2021 2.51%, 05/15/2031			1,480		1,050,474
Philip Morris International, Inc. 4.875%, 02/13/2026			1,753		1,739,923
5.375%, 02/15/2033			1,688		1,676,623
Pilgrim’s Pride Corp. 6.875%, 05/15/2034			1,317		1,398,944
Tyson Foods, Inc. 5.70%, 03/15/2034			600		597,306
					15,501,129
Energy – 1.6%
BP Capital Markets America, Inc. 2.939%, 06/04/2051			1,384		879,629
Continental Resources, Inc./OK 2.875%, 04/01/2032(c)			1,630		1,317,268
5.75%, 01/15/2031(c)			718		706,088
Energy Transfer LP 5.60%, 09/01/2034			1,831		1,816,187
Marathon Oil Corp. 6.80%, 03/15/2032			1,800		1,958,382
ONEOK, Inc. 6.05%, 09/01/2033			707		728,076
Ovintiv, Inc. 6.50%, 02/01/2038			148		151,938
Plains All American Pipeline LP/PAA Finance Corp. 5.70%, 09/15/2034			1,842		1,824,685
Var Energi ASA 7.50%, 01/15/2028(c)			1,132		1,189,676
8.00%, 11/15/2032(c)			1,108		1,236,417
					11,808,346

4

	Principal Amount (000)			U.S. $ Value
Other Industrial – 0.1%
LKQ Corp. 6.25%, 06/15/2033		U.S.$	524	$	538,567
Services – 0.3%
Alibaba Group Holding Ltd. 2.125%, 02/09/2031			1,255		1,036,040
Booking Holdings, Inc. 4.50%, 11/15/2031		EUR	789		890,584
Expedia Group, Inc. 6.25%, 05/01/2025(c)		U.S.$	49		49,126
					1,975,750
Technology – 0.9%
Apple, Inc. 4.10%, 08/08/2062			1,148		928,548
Entegris, Inc. 4.75%, 04/15/2029(c)			1,270		1,213,320
Fiserv, Inc. 3.50%, 07/01/2029			2,539		2,347,966
Honeywell International, Inc. 4.125%, 11/02/2034		EUR	1,241		1,357,225
Infor, Inc. 1.75%, 07/15/2025(c)		U.S.$	649		621,814
Western Digital Corp. 2.85%, 02/01/2029			369		319,757
					6,788,630
Transportation - Airlines – 0.1%
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.50%, 10/20/2025(c)			409		404,617
Transportation - Railroads – 0.1%
Lima Metro Line 2 Finance Ltd. 4.35%, 04/05/2036(c)			221		201,755
5.875%, 07/05/2034(c)			356		351,308
					553,063
Transportation - Services – 0.7%
ENA Master Trust 4.00%, 05/19/2048(c)			380		266,831
ERAC USA Finance LLC 4.60%, 05/01/2028(c)			517		509,033
4.90%, 05/01/2033(c)			1,218		1,185,224
Ryder System, Inc. 5.375%, 03/15/2029			1,458		1,463,890

5

	Principal Amount (000)		U.S. $ Value
TTX Co. 5.50%, 09/25/2026(c)	U.S.$	1,677	$	1,679,147
				5,104,125
				76,600,468
Financial Institutions – 9.7%
Banking – 7.6%
AIB Group PLC 7.583%, 10/14/2026(c)		1,682		1,718,600
Ally Financial, Inc. 6.992%, 06/13/2029		976		1,013,556
American Express Co. 5.098%, 02/16/2028		1,827		1,819,107
Banco Bilbao Vizcaya Argentaria SA 5.381%, 03/13/2029		400		401,392
7.883%, 11/15/2034		200		218,028
Banco de Credito del Peru SA 3.125%, 07/01/2030(c)		1,447		1,396,355
Banco Santander SA 3.80%, 02/23/2028		200		188,532
4.175%, 03/24/2028		800		770,896
6.921%, 08/08/2033		800		836,192
9.625%, 05/21/2033(d)		800		889,232
Bank of America Corp. 2.687%, 04/22/2032		423		357,693
2.972%, 02/04/2033		2,171		1,837,882
Bank of Ireland Group PLC 5.601%, 03/20/2030(c)		365		362,934
6.253%, 09/16/2026(c)		571		573,592
Barclays PLC 5.674%, 03/12/2028		351		351,474
6.224%, 05/09/2034		740		758,448
BNP Paribas SA 2.591%, 01/20/2028(c)		751		697,762
4.625%, 02/25/2031(c) (d)		388		310,908
5.497%, 05/20/2030(c)		1,133		1,128,649
7.375%, 08/19/2025(c) (d)		385		384,265
BPCE SA 6.508%, 01/18/2035(c)		1,793		1,797,447
CaixaBank SA 6.037%, 06/15/2035(c)		843		845,807
6.684%, 09/13/2027(c)		994		1,012,230
Capital One Financial Corp. 5.468%, 02/01/2029		416		414,265
6.377%, 06/08/2034		1,163		1,194,215
Citigroup, Inc. 2.561%, 05/01/2032		2,612		2,176,553
Series W 4.00%, 12/10/2025(d)		788		755,763
Series Y 4.15%, 11/15/2026(d)		139		129,823
Credit Agricole SA 6.251%, 01/10/2035(c)		1,441		1,450,122

6

	Principal Amount (000)			U.S. $ Value
Deutsche Bank AG/New York NY 2.129%, 11/24/2026		U.S.$	958	$	909,228
3.961%, 11/26/2025			385		381,712
6.119%, 07/14/2026			764		764,932
7.146%, 07/13/2027			323		330,839
Discover Bank Series B 5.974%, 08/09/2028			386		384,919
Goldman Sachs Group, Inc. (The) 2.615%, 04/22/2032			2,019		1,697,151
2.65%, 10/21/2032			142		118,091
Series P 8.461% (CME Term SOFR 3 Month + 3.14%), 07/29/2024(d) (e)			193		193,415
Series V 4.125%, 11/10/2026(d)			764		714,860
HSBC Holdings PLC 2.804%, 05/24/2032			581		486,518
2.848%, 06/04/2031			1,675		1,446,597
7.399%, 11/13/2034			652		707,277
8.113%, 11/03/2033			1,427		1,613,081
Intesa Sanpaolo SpA 7.20%, 11/28/2033(c)			919		985,186
JPMorgan Chase & Co. 2.963%, 01/25/2033			2,609		2,224,068
Lloyds Banking Group PLC 4.976%, 08/11/2033			420		401,184
5.462%, 01/05/2028			216		215,592
7.953%, 11/15/2033			461		517,749
Mizuho Financial Group, Inc. 5.376%, 05/26/2030			550		549,263
Morgan Stanley 0.406%, 10/29/2027		EUR	796		791,499
Morgan Stanley Bank NA Series B 5.504%, 05/26/2028		U.S.$	1,013		1,019,990
Nationwide Building Society 2.972%, 02/16/2028(c)			1,238		1,159,981
NatWest Group PLC 3.032%, 11/28/2035			378		316,598
8.125%, 11/10/2033(d)			352		356,425
PNC Financial Services Group, Inc. (The) Series R 8.648% (CME Term SOFR 3 Month + 3.30%), 09/01/2024(d) (e)			280		281,148
Santander Holdings USA, Inc. 6.174%, 01/09/2030			278		280,380
6.499%, 03/09/2029			107		108,923
6.565%, 06/12/2029			8		8,188
Societe Generale SA 2.797%, 01/19/2028(c)			1,389		1,281,783
5.519%, 01/19/2028(c)			502		496,277
Standard Chartered PLC 3.971%, 03/30/2026(c)			885		872,247
6.187%, 07/06/2027(c)			407		410,504
7.101% (CME Term SOFR 3 Month + 1.51%), 01/30/2027(c) (d) (e)			400		378,644

7

	Principal Amount (000)		U.S. $ Value
Swedbank AB Series NC5 5.625%, 09/17/2024(c) (d)	U.S.$	600	$	597,012
UBS Group AG 3.091%, 05/14/2032(c)		1,265		1,079,526
4.194%, 04/01/2031(c)		549		512,113
6.373%, 07/15/2026(c)		1,346		1,352,811
7.00%, 02/19/2025(c) (d)		200		199,500
9.25%, 11/13/2028(c) (d)		316		339,368
9.25%, 11/13/2033(c) (d)		253		283,322
UniCredit SpA 2.569%, 09/22/2026(c)		459		440,429
Wells Fargo & Co. 3.35%, 03/02/2033		2,456		2,132,054
5.499%, 01/23/2035		192		191,537
Series BB 3.90%, 03/15/2026(d)		635		608,063
				55,931,706
Brokerage – 0.3%
Charles Schwab Corp. (The) Series I 4.00%, 06/01/2026(d)		1,949		1,824,654
Finance – 0.4%
Aircastle Ltd. 5.95%, 02/15/2029(c)		310		309,718
Aviation Capital Group LLC 1.95%, 01/30/2026(c)		1,131		1,064,282
1.95%, 09/20/2026(c)		390		359,358
3.50%, 11/01/2027(c)		268		250,813
4.125%, 08/01/2025(c)		10		9,816
4.875%, 10/01/2025(c)		350		345,335
5.50%, 12/15/2024(c)		680		678,184
6.375%, 07/15/2030(c)		62		64,097
				3,081,603
Insurance – 0.9%
Athene Global Funding 5.62%, 05/08/2026(c)		2,182		2,183,440
Humana, Inc. 5.375%, 04/15/2031		511		508,195
Massachusetts Mutual Life Insurance Co. 3.729%, 10/15/2070(c)		11		7,396
MetLife Capital Trust IV 7.875%, 12/15/2037(c)		970		1,040,956
MetLife, Inc. 10.75%, 08/01/2039		25		33,316
Principal Life Global Funding II 5.10%, 01/25/2029(c)		1,265		1,257,448

8

	Principal Amount (000)		U.S. $ Value
Prudential Financial, Inc. 5.375%, 05/15/2045	U.S.$	139	$	137,579
Swiss Re Finance Luxembourg SA 5.00%, 04/02/2049(c)		600		577,386
Swiss Re Subordinated Finance PLC 5.698%, 04/05/2035(c)		1,200		1,183,188
				6,928,904
REITs – 0.5%
American Tower Corp. 3.65%, 03/15/2027		466		446,255
5.20%, 02/15/2029		626		623,665
5.25%, 07/15/2028		462		461,275
Crown Castle, Inc. 5.60%, 06/01/2029		380		383,257
5.80%, 03/01/2034		403		407,014
GLP Capital LP/GLP Financing II, Inc. 3.25%, 01/15/2032		1,036		869,442
4.00%, 01/15/2031		364		326,435
Trust Fibra Uno 5.25%, 01/30/2026(c)		451		438,228
				3,955,571
				71,722,438
Utility – 1.3%
Electric – 1.2%
AES Panama Generation Holdings SRL 4.375%, 05/31/2030(c)		470		407,036
Alexander Funding Trust II 7.467%, 07/31/2028(c)		406		429,175
American Electric Power Co., Inc. 6.95%, 12/15/2054		681		678,542
Duke Energy Carolinas NC Storm Funding LLC Series A-2 2.617%, 07/01/2041		920		708,225
Electricite de France SA 9.125%, 03/15/2033(c) (d)		366		398,497
Enel Finance International NV 5.50%, 06/26/2034(c)		1,836		1,788,741
Engie Energia Chile SA 3.40%, 01/28/2030(c)		981		856,229
6.375%, 04/17/2034(c)		200		202,750
NextEra Energy Capital Holdings, Inc. 6.70%, 09/01/2054		234		234,573
Niagara Mohawk Power Corp. 5.29%, 01/17/2034(c)		652		633,007
NRG Energy, Inc. 7.00%, 03/15/2033(c)		1,304		1,375,159
Pacific Gas and Electric Co. 5.55%, 05/15/2029		340		340,745
Vistra Operations Co., LLC 6.95%, 10/15/2033(c)		726		775,085
				8,827,764

9

	Principal Amount (000)			U.S. $ Value
Other Utility – 0.1%
American Water Capital Corp. 2.30%, 06/01/2031	U.S.$	438		$	362,546
					9,190,310
Total Corporates - Investment Grade (cost $162,146,360)					157,513,216
MORTGAGE PASS-THROUGHS – 20.9%
Agency Fixed Rate 30-Year – 20.5%
Federal Home Loan Mortgage Corp. Series 2019 3.50%, 10/01/2049		400			359,183
3.50%, 11/01/2049		527			472,981
Series 2020 3.50%, 01/01/2050		1,193			1,074,254
Series 2022 2.00%, 03/01/2052		5,780			4,571,054
2.50%, 04/01/2052		6,800			5,622,355
3.00%, 03/01/2052		3,724			3,209,495
3.00%, 05/01/2052		4,248			3,618,916
Federal Home Loan Mortgage Corp. Gold Series 2005 5.50%, 01/01/2035		15			14,995
Series 2007 5.50%, 07/01/2035		101			102,525
Series 2016 4.00%, 02/01/2046		877			832,692
Series 2017 4.00%, 07/01/2044		575			545,667
Series 2018 4.50%, 03/01/2048		270			259,760
4.50%, 10/01/2048		546			524,918
4.50%, 11/01/2048		816			785,501
5.00%, 11/01/2048		328			324,293
Federal National Mortgage Association Series 2003 5.50%, 04/01/2033		85			86,186
5.50%, 07/01/2033		161			162,598
Series 2004 5.50%, 02/01/2034		2			1,757
5.50%, 04/01/2034		40			40,717
5.50%, 05/01/2034		33			33,742
5.50%, 11/01/2034		155			157,618
Series 2005 5.50%, 02/01/2035		241			245,001
Series 2006 5.50%, 04/01/2036		48			48,784
Series 2007 5.50%, 05/01/2036		2			2,375
5.50%, 09/01/2036		1			1,376
5.50%, 08/01/2037		59			60,325
Series 2008 5.50%, 08/01/2037		0	**		324

10

	Principal Amount (000)		U.S. $ Value
Series 2009 5.00%, 12/01/2039	U.S.$	9	$	9,417
Series 2010 4.00%, 12/01/2040		357		339,072
5.00%, 06/01/2040		8		7,913
Series 2012 3.50%, 02/01/2042		306		281,754
3.50%, 11/01/2042		3,250		2,993,274
3.50%, 01/01/2043		542		498,631
Series 2013 3.50%, 04/01/2043		1,909		1,754,592
4.00%, 10/01/2043		1,222		1,154,197
Series 2015 3.00%, 05/01/2045		458		401,905
3.00%, 08/01/2045		680		597,248
Series 2018 4.50%, 09/01/2048		1,125		1,080,750
Series 2019 3.50%, 08/01/2049		1,566		1,407,738
3.50%, 09/01/2049		555		499,164
3.50%, 11/01/2049		1,138		1,021,527
Series 2020 3.50%, 01/01/2050		1,118		1,004,784
Series 2021 2.00%, 07/01/2051		6,195		4,862,179
2.00%, 12/01/2051		9,002		7,057,316
2.50%, 01/01/2052		1,881		1,555,794
Series 2022 2.50%, 03/01/2052		4,165		3,444,004
2.50%, 04/01/2052		4,360		3,601,477
2.50%, 05/01/2052		5,771		4,768,018
3.00%, 02/01/2052		4,571		3,939,589
3.00%, 03/01/2052		5,864		5,053,258
Government National Mortgage Association Series 2016 3.00%, 04/20/2046		148		131,115
3.00%, 05/20/2046		427		377,139
Series 2023 5.50%, 04/20/2053		3,783		3,754,150
Series 2024 3.00%, 07/15/2054, TBA		3,514		3,064,192
4.00%, 07/15/2054, TBA		3,275		3,026,527
4.50%, 07/15/2054, TBA		9,719		9,238,599
5.00%, 07/15/2054, TBA		12,561		12,229,652
5.50%, 07/15/2054, TBA		5,036		4,996,024
Uniform Mortgage-Backed Security Series 2024 2.00%, 07/15/2054, TBA		9,870		7,719,516
2.50%, 07/15/2054, TBA		9,801		8,004,973
5.50%, 07/15/2054, TBA		12,315		12,146,149
6.00%, 07/15/2054, TBA		10,459		10,488,906
6.50%, 07/15/2054, TBA		5,112		5,202,317
				150,872,252

11

	Principal Amount (000)			U.S. $ Value
Agency Fixed Rate 15-Year – 0.4%
Federal National Mortgage Association Series 2016 2.50%, 10/01/2031	U.S.$	34		$	32,351
2.50%, 11/01/2031		1,835			1,721,108
2.50%, 12/01/2031		10			9,058
Series 2017 2.50%, 01/01/2032		564			528,852
2.50%, 02/01/2032		520			485,383
					2,776,752
Other Agency Fixed Rate Programs – 0.0%
Federal National Mortgage Association Series 2005 5.50%, 03/01/2025		4			3,493
Agency ARMs – 0.0%
Federal Home Loan Mortgage Corp. Series 2006 6.596% (RFUCCT1Y + 2.18%), 12/01/2036(e)		0	**		116
Series 2007 6.60% (RFUCCT1Y + 2.10%), 03/01/2037(e)		0	**		324
Federal National Mortgage Association Series 2007 5.835% (RFUCCT1Y + 1.46%), 02/01/2037(e)		1			924
6.508% (RFUCCT1Y + 1.80%), 03/01/2037(e)		0	**		307
					1,671
Total Mortgage Pass-Throughs (cost $162,498,739)					153,654,168
COLLATERALIZED MORTGAGE OBLIGATIONS – 6.1%
Risk Share Floating Rate – 5.6%
Bellemeade Re Ltd. Series 2021-3A, Class A2 6.335% (CME Term SOFR + 1.00%), 09/25/2031(c) (e)		1,894			1,893,912
Series 2022-1, Class M1B 7.485% (CME Term SOFR + 2.15%), 01/26/2032(c) (e)		1,000			1,007,163
Connecticut Avenue Securities Trust Series 2021-R03, Class 1M1 6.185% (CME Term SOFR + 0.85%), 12/25/2041(c) (e)		962			961,624
Series 2022-R01, Class 1M2 7.235% (CME Term SOFR + 1.90%), 12/25/2041(c) (e)		2,306			2,333,156
Series 2022-R02, Class 2M1 6.535% (CME Term SOFR + 1.20%), 01/25/2042(c) (e)		924			924,708
Series 2022-R03, Class 1M2 8.835% (CME Term SOFR + 3.50%), 03/25/2042(c) (e)		1,545			1,625,707
Series 2022-R05, Class 2M2 8.335% (CME Term SOFR + 3.00%), 04/25/2042(c) (e)		1,206			1,249,087

12

	Principal Amount (000)		U.S. $ Value
Series 2022-R06, Class 1M1 8.085% (CME Term SOFR + 2.75%), 05/25/2042(c) (e)	U.S.$	1,059	$	1,088,677
Series 2022-R07, Class 1M1 8.285% (CME Term SOFR + 2.95%), 06/25/2042(c) (e)		1,460		1,509,041
Series 2023-R02, Class 1M1 7.635% (CME Term SOFR + 2.30%), 01/25/2043(c) (e)		662		678,666
Series 2023-R03, Class 2M1 7.835% (CME Term SOFR + 2.50%), 04/25/2043(c) (e)		917		938,650
Series 2023-R04, Class 1M1 7.635% (CME Term SOFR + 2.30%), 05/25/2043(c) (e)		1,301		1,336,858
Series 2023-R06, Class 1M1 7.035% (CME Term SOFR + 1.70%), 07/25/2043(c) (e)		1,169		1,180,157
Series 2024-R02, Class 1M1 6.435% (CME Term SOFR + 1.10%), 02/25/2044(c) (e)		658		657,873
Eagle Re Ltd. Series 2021-2, Class M1B 7.385% (CME Term SOFR + 2.05%), 04/25/2034(c) (e)		290		291,167
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2015-DNA1, Class M3 8.75% (CME Term SOFR + 3.41%), 10/25/2027(e)		64		64,683
Series 2021-DNA5, Class M2 6.985% (CME Term SOFR + 1.65%), 01/25/2034(c) (e)		401		403,124
Series 2021-DNA6, Class M2 6.835% (CME Term SOFR + 1.50%), 10/25/2041(c) (e)		2,513		2,525,781
Series 2021-DNA7, Class M2 7.135% (CME Term SOFR + 1.80%), 11/25/2041(c) (e)		2,412		2,436,322
Series 2021-HQA4, Class M2 7.685% (CME Term SOFR + 2.35%), 12/25/2041(c) (e)		1,530		1,548,860
Series 2022-DNA1, Class M1A 6.335% (CME Term SOFR + 1.00%), 01/25/2042(c) (e)		641		641,332
Series 2022-DNA1, Class M1B 7.185% (CME Term SOFR + 1.85%), 01/25/2042(c) (e)		1,223		1,236,968
Series 2022-DNA2, Class M1B 7.735% (CME Term SOFR + 2.40%), 02/25/2042(c) (e)		1,717		1,759,736
Series 2022-DNA3, Class M1B 8.235% (CME Term SOFR + 2.90%), 04/25/2042(c) (e)		711		739,252

13

	Principal Amount (000)		U.S. $ Value
Series 2022-DNA4, Class M1B 8.685% (CME Term SOFR + 3.35%), 05/25/2042(c) (e)	U.S.$	1,358	$	1,425,485
Series 2022-DNA5, Class M1B 9.835% (CME Term SOFR + 4.50%), 06/25/2042(c) (e)		2,274		2,466,484
Series 2022-DNA7, Class M1A 7.835% (CME Term SOFR + 2.50%), 03/25/2052(c) (e)		1,275		1,297,686
Series 2022-HQA1, Class M1B 8.835% (CME Term SOFR + 3.50%), 03/25/2042(c) (e)		399		419,296
Series 2023-DNA1, Class M1A 7.435% (CME Term SOFR + 2.10%), 03/25/2043(c) (e)		773		786,953
Series 2023-DNA2, Class M1A 7.435% (CME Term SOFR + 2.10%), 04/25/2043(c) (e)		1,510		1,545,371
Series 2024-HQA1, Class M1 6.585% (CME Term SOFR + 1.25%), 03/25/2044(c) (e)		1,475		1,480,405
Federal National Mortgage Association Connecticut Avenue Securities Series 2015-C04, Class 1M2 11.15% (CME Term SOFR + 5.81%), 04/25/2028(e)		91		96,095
Series 2021-R02, Class 2M2 7.335% (CME Term SOFR + 2.00%), 11/25/2041(c) (e)		1,071		1,078,706
JPMorgan Madison Avenue Securities Trust Series 2014-CH1, Class M2 9.70% (CME Term SOFR + 4.36%), 11/25/2024(c) (e)		38		40,037
Oaktown Re VII Ltd. Series 2021-2, Class M1A 6.935% (CME Term SOFR + 1.60%), 04/25/2034(c) (e)		602		602,151
PMT Credit Risk Transfer Trust Series 2019-2R, Class A 9.21% (CME Term SOFR 1 Month + 3.86%), 05/30/2025(c) (e)		611		611,078
Series 2019-3R, Class A 9.149% (CME Term SOFR + 3.81%), 11/27/2031(c) (e)		48		48,470
Series 2020-1R, Class A 8.799% (CME Term SOFR + 3.46%), 02/25/2025(c) (e)		191		189,620
Wells Fargo Credit Risk Transfer Securities Trust Series 2015-WF1, Class 1M2 10.70% (CME Term SOFR + 5.36%), 11/25/2025(c) (e)		157		161,903
Series 2015-WF1, Class 2M2 10.95% (CME Term SOFR + 5.61%), 11/25/2025(c) (e)		38		40,053
				41,322,297

14

	Principal Amount (000)		U.S. $ Value
Agency Floating Rate – 0.2%
Federal Home Loan Mortgage Corp. REMICs Series 4416, Class BS 0.653% (5.99% - CME Term SOFR), 12/15/2044(e) (f)	U.S.$	1,120	$	110,675
Series 4693, Class SL 0.703% (6.04% - CME Term SOFR), 06/15/2047(e) (f)		1,230		157,696
Series 4954, Class SL 0.60% (5.94% - CME Term SOFR), 02/25/2050(e) (f)		1,669		171,951
Series 4981, Class HS 0.65% (5.99% - CME Term SOFR), 06/25/2050(e) (f)		3,723		324,714
Federal National Mortgage Association REMICs Series 2016-106, Class ES 0.55% (5.89% - CME Term SOFR), 01/25/2047(e) (f)		1,110		124,791
Series 2017-73, Class SA 0.70% (6.04% - CME Term SOFR), 09/25/2047(e) (f)		1,483		181,669
Series 2017-97, Class LS 0.75% (6.09% - CME Term SOFR), 12/25/2047(e) (f)		1,117		139,462
Series 2017-97, Class SW 0.75% (6.09% - CME Term SOFR), 12/25/2047(e) (f)		1,022		119,600
Government National Mortgage Association Series 2017-134, Class SE 0.747% (6.09% - CME Term SOFR 1 Month), 09/20/2047(e) (f)		726		71,873
Series 2017-43, Class ST 0.647% (5.99% - CME Term SOFR 1 Month), 03/20/2047(e) (f)		1,439		164,006
Series 2017-65, Class ST 0.697% (6.04% - CME Term SOFR 1 Month), 04/20/2047(e) (f)		1,317		138,995
				1,705,432
Agency Fixed Rate – 0.2%
Federal Home Loan Mortgage Corp. REMICs Series 4973, Class BI 4.50%, 05/25/2050 (g)		4,324		987,706
Federal National Mortgage Association Grantor Trust Series 2004-T5, Class AB4 4.676%, 05/28/2035		243		235,019
				1,222,725

15

	Principal Amount (000)		U.S. $ Value
Non-Agency Floating Rate – 0.1%
Deutsche Alt-A Securities Mortgage Loan Trust Series 2006-AR4, Class A2 5.84% (CME Term SOFR 1 Month + 0.49%), 12/25/2036(e)	U.S.$	798	$	252,515
HomeBanc Mortgage Trust Series 2005-1, Class A1 5.96% (CME Term SOFR 1 Month + 0.61%), 03/25/2035(e)		119		90,067
JPMorgan Chase Bank, NA Series 2019-CL1, Class M3 7.56% (CME Term SOFR 1 Month + 2.21%), 04/25/2047(c) (e)		171		170,708
				513,290
Non-Agency Fixed Rate – 0.0%
Alternative Loan Trust Series 2005-20CB, Class 3A6 5.50%, 07/25/2035		57		38,340
Series 2006-24CB, Class A16 5.75%, 08/25/2036		352		184,880
Series 2006-J1, Class 1A13 5.50%, 02/25/2036		142		95,719
CHL Mortgage Pass-Through Trust Series 2006-13, Class 1A19 6.25%, 09/25/2036		73		31,090
				350,029
Total Collateralized Mortgage Obligations (cost $44,492,225)				45,113,773
ASSET-BACKED SECURITIES – 5.7%
Other ABS - Fixed Rate – 2.8%
AB Issuer LLC Series 2021-1, Class A2 3.734%, 07/30/2051(c)		2,059		1,821,489
Affirm Asset Securitization Trust Series 2021-Z1, Class A 1.07%, 08/15/2025(c)		4		3,788
Series 2021-Z2, Class A 1.17%, 11/16/2026(c)		59		57,747
Series 2022-X1, Class A 1.75%, 02/15/2027(c)		31		31,168
Series 2024-X1, Class A 6.27%, 05/15/2029(c)		966		967,025
Atalaya Equipment Leasing Trust Series 2021-1A, Class B 2.08%, 02/15/2027(c)		466		461,159
BHG Securitization Trust Series 2022-A, Class A 1.71%, 02/20/2035(c)		67		66,189
Cajun Global LLC Series 2021-1, Class A2 3.931%, 11/20/2051(c)		432		392,872

16

	Principal Amount (000)		U.S. $ Value
College Ave Student Loans LLC Series 2021-C, Class B 2.72%, 07/26/2055(c)	U.S.$	512	$	450,894
Conn’s Receivables Funding LLC Series 2024-A, Class A 7.05%, 01/16/2029(c)		334		334,293
Dext ABS LLC Series 2021-1, Class B 1.76%, 02/15/2028(c)		186		181,439
Series 2023-1, Class A2 5.99%, 03/15/2032(c)		1,390		1,385,338
Diamond Infrastructure Funding LLC Series 2021-1A, Class B 2.355%, 04/15/2049(c)		935		844,338
Diamond Issuer LLC Series 2021-1A, Class A 2.305%, 11/20/2051(c)		1,941		1,749,768
FREED ABS Trust Series 2021-2, Class C 1.94%, 06/19/2028(c)		168		167,526
GCI Funding I LLC Series 2021-1, Class A 2.38%, 06/18/2046(c)		542		480,720
Hardee’s Funding LLC Series 2018-1A, Class A23 5.71%, 06/20/2048(c)		768		732,488
Series 2020-1A, Class A2 3.981%, 12/20/2050(c)		472		429,398
MVW LLC Series 2021-2A, Class B 1.83%, 05/20/2039(c)		456		421,817
Neighborly Issuer LLC Series 2022-1A, Class A2 3.695%, 01/30/2052(c)		1,968		1,730,250
Series 2023-1A, Class A2 7.308%, 01/30/2053(c)		1,386		1,397,098
Nelnet Student Loan Trust Series 2021-BA, Class B 2.68%, 04/20/2062(c)		620		513,371
Series 2021-CA, Class B 2.53%, 04/20/2062(c)		907		737,044
Series 2021-DA, Class B 2.90%, 04/20/2062(c)		798		664,394
Pagaya AI Debt Grantor Trust Series 2024-5, Class A 6.278%, 10/15/2031(c)		1,044		1,045,176
Pagaya AI Debt Trust Series 2024-2, Class A 6.319%, 08/15/2031(c)		819		819,381
Series 2024-3, Class A 6.258%, 10/15/2031(c)		1,170		1,170,434
Prosper Marketplace Issuance Trust Series 2024-1A, Class A 6.12%, 08/15/2029(c)		1,415		1,415,767
				20,472,371

17

	Principal Amount (000)		U.S. $ Value
Autos - Fixed Rate – 1.9%
ACM Auto Trust Series 2024-1A, Class A 7.71%, 01/21/2031(c)	U.S.$	797	$	799,749
Arivo Acceptance Auto Loan Receivables Trust Series 2024-1A, Class A 6.46%, 04/17/2028(c)		282		281,926
Avis Budget Rental Car Funding AESOP LLC Series 2023-3A, Class A 5.44%, 02/22/2028(c)		1,016		1,015,189
Carvana Auto Receivables Trust Series 2021-N3, Class C 1.02%, 06/12/2028		163		153,329
Series 2021-N4, Class D 2.30%, 09/11/2028		432		416,427
Series 2021-P4, Class D 2.61%, 09/11/2028		989		895,036
CPS Auto Receivables Trust Series 2021-C, Class D 1.69%, 06/15/2027(c)		1,217		1,184,338
Series 2022-A, Class C 2.17%, 04/16/2029(c)		1,165		1,148,506
Series 2024-C, Class A 5.88%, 02/15/2028(c)		855		854,949
FHF Trust Series 2021-2A, Class A 0.83%, 12/15/2026(c)		145		141,868
Flagship Credit Auto Trust Series 2023-1, Class A2 5.38%, 12/15/2026(c)		597		596,224
Series 2023-2, Class A2 5.76%, 04/15/2027(c)		669		668,341
Ford Credit Auto Owner Trust Series 2021-1, Class D 2.31%, 10/17/2033(c)		1,390		1,289,747
Foursight Capital Automobile Receivables Trust Series 2023-1, Class A2 5.43%, 10/15/2026(c)		456		455,280
LAD Auto Receivables Trust Series 2021-1A, Class A 1.30%, 08/17/2026(c)		43		43,101
Series 2023-1A, Class A2 5.68%, 10/15/2026(c)		400		400,146
Lendbuzz Securitization Trust Series 24-1A, Class A1 5.789%, 01/15/2025(c)		120		119,663

18

	Principal Amount (000)		U.S. $ Value
Prestige Auto Receivables Trust Series 2024-1A, Class A1 5.648%, 04/15/2025(c)	U.S.$	458	$	458,182
Research-Driven Pagaya Motor Trust Series 2024-1A, Class A 7.09%, 06/25/2032(c)		708		711,270
Santander Bank Auto Credit-Linked Notes Series 2022-A, Class B 5.281%, 05/15/2032(c)		354		352,370
Santander Drive Auto Receivables Trust Series 2023-3, Class B 5.61%, 07/17/2028		832		832,664
Tesla Auto Lease Trust Series 2024-A, Class A3 5.30%, 06/21/2027(c)		591		589,455
Tricolor Auto Securitization Trust Series 2024-2A, Class A 6.36%, 12/15/2027(c)		765		765,524
United Auto Credit Securitization Trust Series 2024-1, Class A 6.17%, 08/10/2026(c)		151		150,671
				14,323,955
Home Equity Loans - Floating Rate – 0.7%
Home Equity Asset Trust Series 2007-3, Class M1 5.983% (CME Term SOFR 1 Month + 0.64%), 08/25/2037(e)		4,590		5,034,599
Wells Fargo Home Equity Trust Mortgage Pass-Through Certificates Series 2004-1, Class 1A 6.06% (CME Term SOFR 1 Month + 0.71%), 04/25/2034(e)		31		29,832
				5,064,431
Credit Cards - Fixed Rate – 0.3%
Brex Commercial Charge Card Master Trust Series 2024-1, Class A1 6.05%, 07/15/2027(c)		1,188		1,186,601
Mission Lane Credit Card Master Trust Series 2024-A, Class A1 6.20%, 08/15/2029(c)		811		810,194
				1,996,795
Total Asset-Backed Securities (cost $38,571,136)				41,857,552
COMMERCIAL MORTGAGE-BACKED SECURITIES – 2.7%
Non-Agency Floating Rate CMBS – 1.7%
AREIT Trust Series 2022-CRE6, Class A 6.583% (CME Term SOFR + 1.25%), 01/20/2037(c) (e)		2,505		2,484,516

19

	Principal Amount (000)		U.S. $ Value
BAMLL Commercial Mortgage Securities Trust Series 2017-SCH, Class AF 6.376% (CME Term SOFR 1 Month + 1.05%), 11/15/2033(c) (e)	U.S.$	2,435	$	2,428,133
BBCMS Mortgage Trust Series 2020-BID, Class A 7.584% (CME Term SOFR 1 Month + 2.25%), 10/15/2037(c) (e)		1,998		1,996,341
BFLD Trust Series 2021-FPM, Class A 7.044% (CME Term SOFR 1 Month + 1.71%), 06/15/2038(c) (e)		2,976		2,975,999
BX Commercial Mortgage Trust Series 2019-IMC, Class D 7.275% (CME Term SOFR 1 Month + 1.95%), 04/15/2034(c) (e)		207		201,017
Series 2019-IMC, Class E 7.525% (CME Term SOFR 1 Month + 2.20%), 04/15/2034(c) (e)		839		818,520
CLNY Trust Series 2019-IKPR, Class D 7.468% (CME Term SOFR 1 Month + 2.14%), 11/15/2038(c) (e)		744		705,078
Federal Home Loan Mortgage Corp. Series 2021-MN1, Class M1 7.335% (CME Term SOFR + 2.00%), 01/25/2051(c) (e)		149		148,571
Natixis Commercial Mortgage Securities Trust Series 2019-MILE, Class A 6.908% (CME Term SOFR 1 Month + 1.58%), 07/15/2036(c) (e)		566		526,662
				12,284,837
Non-Agency Fixed Rate CMBS – 1.0%
BAMLL Commercial Mortgage Securities Trust Series 2013-WBRK, Class D 3.652%, 03/10/2037(c)		740		592,854
Commercial Mortgage Trust Series 2012-CR3, Class E 4.43%, 10/15/2045(c)		889		502,385
Series 2015-LC21, Class XA 0.754%, 07/10/2048(g)		1,856		6,483
GS Mortgage Securities Trust Series 2011-GC5, Class D 5.296%, 08/10/2044(c)		28		13,077
GSF Series 2021-1, Class A1 1.433%, 08/15/2026(h)		1,133		1,087,513
Series 2021-1, Class A2 2.435%, 08/15/2026(h)		1,801		1,722,114
Series 2021-1, Class AS 2.638%, 08/15/2026(h)		59		55,006

20

	Principal Amount (000)		U.S. $ Value
HFX Funding Issuer Series 2017-1A, Class A3 3.647%, 03/15/2035(h)	U.S.$	1,690	$	1,669,476
JPMBB Commercial Mortgage Securities Trust Series 2013-C14, Class D 4.248%, 08/15/2046(c)		472		339,015
Series 2014-C22, Class XA 0.826%, 09/15/2047(g)		2,642		142
LB-UBS Commercial Mortgage Trust Series 2006-C6, Class AJ 5.452%, 09/15/2039		147		56,329
LSTAR Commercial Mortgage Trust Series 2016-4, Class A2 2.579%, 03/10/2049(c)		184		179,422
Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C19, Class D 3.25%, 12/15/2047(c)		603		491,975
Series 2015-C25, Class XA 1.176%, 10/15/2048(g)		1,812		12,885
Wells Fargo Commercial Mortgage Trust Series 2016-NXS6, Class C 4.537%, 11/15/2049		1,030		937,640
				7,666,316
Total Commercial Mortgage-Backed Securities (cost $21,192,779)				19,951,153
AGENCIES – 1.7%
Agency Debentures – 1.7%
Federal Home Loan Banks 4.00%, 06/30/2028		10,600		10,441,318
4.75%, 12/08/2028		1,785		1,802,422
Federal National Mortgage Association 6.25%, 05/15/2029		355		383,636
6.625%, 11/15/2030		260		290,599
Total Agencies (cost $13,128,071)				12,917,975
COLLATERALIZED LOAN OBLIGATIONS – 1.5%
CLO - Floating Rate – 1.5%
Balboa Bay Loan Funding Ltd. Series 2021-1A, Class A 6.786% (CME Term SOFR 3 Month + 1.46%), 07/20/2034(c) (e)		1,472		1,473,477
Elevation CLO Ltd. Series 2020-11A, Class C 7.79% (CME Term SOFR 3 Month + 2.46%), 04/15/2033(c) (e)		1,080		1,050,919
Elmwood CLO IX Ltd. Series 2021-2A, Class A 6.716% (CME Term SOFR 3 Month + 1.39%), 07/20/2034(c) (e)		1,500		1,502,241

21

	Principal Amount (000)		U.S. $ Value
Flatiron CLO 21 Ltd. Series 2021-1A, Class A1 6.698% (CME Term SOFR 3 Month + 1.37%), 07/19/2034(c) (e)	U.S.$	1,130	$	1,132,223
New Mountain CLO 3 Ltd. Series CLO-3A, Class D 8.936% (CME Term SOFR 3 Month + 3.61%), 10/20/2034(c) (e)		250		251,132
Pikes Peak CLO 8 Series 2021-8A, Class A 6.756% (CME Term SOFR 3 Month + 1.43%), 07/20/2034(c) (e)		1,907		1,907,590
Regatta XX Funding Ltd. Series 2021-2A, Class A 6.75% (CME Term SOFR 3 Month + 1.42%), 10/15/2034(c) (e)		2,924		2,926,556
Rockford Tower CLO Ltd. Series 2021-2A, Class A1 6.746% (CME Term SOFR 3 Month + 1.42%), 07/20/2034(c) (e)		1,310		1,310,970
Total Collateralized Loan Obligations (cost $11,572,671)				11,555,108
INFLATION-LINKED SECURITIES – 1.3%
United States – 1.3%
U.S. Treasury Inflation Index 0.25%, 07/15/2029 (TIPS) (cost $9,254,564)		10,232		9,398,984
LOCAL GOVERNMENTS - US MUNICIPAL BONDS – 0.7%
United States – 0.7%
State Board of Administration Finance Corp. (Florida Hurricane Catastrophe Fund) Series 2020-A 1.705%, 07/01/2027		1,634		1,482,678
State of California Series 2010 7.625%, 03/01/2040		2,040		2,418,882
University of California Series 2021-B 3.071%, 05/15/2051		2,070		1,415,117
Total Local Governments - US Municipal Bonds (cost $5,807,688)				5,316,677
EMERGING MARKETS - CORPORATE BONDS – 0.7%
Industrial – 0.6%
Basic – 0.2%
Braskem Netherlands Finance BV 4.50%, 01/10/2028(c)		1,136		1,033,050
CSN Resources SA 4.625%, 06/10/2031(c)		293		230,005
Volcan Cia Minera SAA 4.375%, 02/11/2026(c)		189		146,534
				1,409,589

22

	Principal Amount (000)			U.S. $ Value
Communications - Media – 0.1%
Globo Comunicacao e Participacoes SA 4.875%, 01/22/2030(c)		U.S.$	1,255	$	1,113,028
Consumer Cyclical - Other – 0.1%
Wynn Macau Ltd. 5.625%, 08/26/2028(c)			730		683,280
Energy – 0.2%
Ecopetrol SA 8.625%, 01/19/2029			980		1,031,548
Oleoducto Central SA 4.00%, 07/14/2027(c)			248		229,896
					1,261,444
					4,467,341
Utility – 0.1%
Electric – 0.0%
Terraform Global Operating LP 6.125%, 03/01/2026(c)			117		115,434
Other Utility – 0.1%
Aegea Finance SARL 6.75%, 05/20/2029(c)			431		418,846
					534,280
Financial Institutions – 0.0%
Other Finance – 0.0%
OEC Finance Ltd. 5.25%, 12/27/2033(c) (i) (j)			425		25,943
Total Emerging Markets – Corporate Bonds (cost $5,528,424)					5,027,564
CORPORATES - NON-INVESTMENT GRADE – 0.7%
Industrial – 0.6%
Communications - Media – 0.2%
DISH DBS Corp. 5.75%, 12/01/2028(c)			996		685,328
VZ Vendor Financing II BV 2.875%, 01/15/2029(c)		EUR	540		499,015
					1,184,343
Communications - Telecommunications – 0.0%
Altice France SA 3.375%, 01/15/2028(c)			259		192,829
Consumer Cyclical - Other – 0.1%
Hilton Domestic Operating Co., Inc. 5.875%, 04/01/2029(c)		U.S.$	455		455,305
6.125%, 04/01/2032(c)			261		262,114
					717,419

23

	Principal Amount (000)			U.S. $ Value
Consumer Non-Cyclical – 0.0%
Organon & Co./Organon Foreign Debt Co-Issuer BV 2.875%, 04/30/2028(c)		EUR	320	$	322,080
Energy – 0.1%
Sunoco LP 7.00%, 05/01/2029(c)		U.S.$	293		300,399
7.25%, 05/01/2032(c)			400		413,548
Sunoco LP/Sunoco Finance Corp. 4.50%, 05/15/2029			67		62,752
					776,699
Other Industrial – 0.0%
Odebrecht Holdco Finance Ltd. Zero Coupon, 09/10/2058(c)			417		521
Services – 0.2%
APCOA Parking Holdings GmbH 4.625%, 01/15/2027(c)		EUR	540		564,896
Block, Inc. 6.50%, 05/15/2032(c)		U.S.$	580		587,865
					1,152,761
					4,346,652
Utility – 0.1%
Electric – 0.1%
Vistra Corp. 7.00%, 12/15/2026(c) (d)			648		641,954
Total Corporates - Non-Investment Grade (cost $5,918,575)					4,988,606
QUASI-SOVEREIGNS – 0.4%
Quasi-Sovereign Bonds – 0.4%
Chile – 0.2%
Corp. Nacional del Cobre de Chile 6.44%, 01/26/2036(c)			1,473		1,514,428
Hungary – 0.1%
Magyar Export-Import Bank Zrt 6.125%, 12/04/2027(c)			988		991,396
Mexico – 0.1%
Comision Federal de Electricidad 4.688%, 05/15/2029(c)			478		446,034
Total Quasi-Sovereigns (cost $2,974,211)					2,951,858
EMERGING MARKETS - SOVEREIGNS – 0.1%
Dominican Republic – 0.1%
Dominican Republic International Bond 4.875%, 09/23/2032(c) (cost $788,000)			788		706,737

24

	Principal Amount (000)				U.S. $ Value
GOVERNMENTS - SOVEREIGN BONDS – 0.1%
Colombia – 0.1%
Colombia Government International Bond 3.125%, 04/15/2031 (cost $694,322)		U.S.$		696	$	548,448
			Shares
COMMON STOCKS – 0.1%
Financials – 0.1%
Insurance – 0.1%
Mt Logan Re Ltd. Special Investment, Series 2, December 2021 - Class U-1(k) (l) (m)				359		121,875
Mt Logan Re Ltd. Special Investment, Series 2, December 2022 - Class U-1(k) (l) (m)				523		282,748
Total Common Stocks (cost $783,461)						404,623
			Principal Amount (000)
SHORT-TERM INVESTMENTS – 12.0%
U.S. Treasury Bills – 9.3%
U.S. Treasury Bill Zero Coupon, 08/06/2024		U.S.$		2,705		2,690,568
Zero Coupon, 08/15/2024				1,484		1,474,534
Zero Coupon, 09/05/2024				14,156		14,020,162
Zero Coupon, 09/12/2024				16,031		15,860,725
Zero Coupon, 10/22/2024				15,087		14,840,233
Zero Coupon, 10/29/2024				15,059		14,799,188
Zero Coupon, 11/21/2024				4,902		4,801,621
Total U.S. Treasury Bills (cost $68,490,187)						68,487,031
			Shares
Investment Companies – 2.7%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.22%(n) (o) (p) (cost $19,799,425)				19,799,425		19,799,425
Total Short-Term Investments (cost $88,289,612)						88,286,456
Total Investments – 111.8% (cost $863,805,531)(q)						822,985,472
Other assets less liabilities – (11.8)%						(87,089,019	)
Net Assets – 100.0%					$	735,896,453

25

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
U.S. 10 Yr Ultra Futures		84		September 2024		$	9,536,625		$	100,418
U.S. T-Note 2 Yr (CBT) Futures		129		September 2024			26,344,219			73,318
U.S. T-Note 5 Yr (CBT) Futures		665		September 2024			70,874,453			337,978
U.S. Ultra Bond (CBT) Futures		24		September 2024			3,008,250			68,595
									$	580,309

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
JPMorgan Chase Bank, NA		EUR	4,366		USD	4,703		08/08/2024		$	18,831

CENTRALLY CLEARED INTEREST RATE SWAPS

				Rate Type
Notional Amount (000)		Termination Date	Payments made by the Fund	Payments received by the Fund	Payment Frequency Paid/ Received	Market Value		Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
USD	4,950	12/13/2029	1.537%	1 Day SOFR	Annual	$	703,173	$	401,609	$	301,564

CREDIT DEFAULT SWAPS

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at June 30, 2024	Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Sale Contracts
Citigroup Global Markets, Inc.
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00	%	Monthly	5.00%		USD	3	$	(413	)	$	(449	)	$	36
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	22		(2,897	)		(2,911	)		14
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	4		(591	)		(513	)		(78	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	19		(2,483	)		(2,273	)		(210	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	20		(2,602	)		(2,326	)		(276	)

26

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at June 30, 2024	Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00	%	Monthly	5.00%		USD	22	$	(2,956	)	$	(2,612	)	$	(344	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	19		(2,542	)		(2,174	)		(368	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	16		(2,069	)		(1,682	)		(387	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	22		(2,956	)		(2,528	)		(428	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	11		(1,478	)		(1,013	)		(465	)
Credit Suisse International
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	2		(296	)		(249	)		(47	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	112		(14,840	)		(8,113	)		(6,727	)
Goldman Sachs International
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	12		(1,655	)		(1,695	)		40
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	14		(1,833	)		(1,585	)		(248	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	20		(2,660	)		(2,102	)		(558	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	20		(2,661	)		(1,772	)		(889	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	20		(2,660	)		(1,637	)		(1,023	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	119		(15,845	)		(9,230	)		(6,615	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	272		(36,064	)		(27,809	)		(8,255	)
Morgan Stanley Capital Services LLC
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	5.00		USD	164		(21,816	)		(10,371	)		(11,445	)
									$	(121,317	)	$	(83,044	)	$	(38,273	)

27

* Termination date

** Principal amount less than 500.

(a) Position, or a portion thereof, has been segregated to collateralize OTC derivatives outstanding.

(b) Position, or a portion thereof, has been segregated to collateralize margin requirements for open centrally cleared swaps.

(c) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At June 30, 2024, the aggregate market value of these securities amounted to $177,761,632 or 24.2% of net assets.

(d) Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date.

(e) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at June 30, 2024.

(f) Inverse interest only security.

(g) IO - Interest Only.

(h) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.62% of net assets as of June 30, 2024, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities	Acquisition Date	Cost		Market Value		Percentage of Net Assets
GSF Series 2021-1, Class A1 1.433%, 08/15/2026	02/25/2021 - 08/03/2023	$	1,094,633	$	1,087,513	0.15%
GSF Series 2021-1, Class A2 2.435%, 08/15/2026	02/25/2021 - 09/06/2022		1,826,626		1,722,114	0.23%
GSF Series 2021-1, Class AS 2.638%, 08/15/2026	02/25/2021 - 04/01/2021		59,710		55,006	0.01%
HFX Funding Issuer Series 2017-1A, Class A3 3.647%, 03/15/2035	11/19/2020		1,787,172		1,669,476	0.23%

(i) Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at June 30, 2024.

(j) Pay-In-Kind Payments (PIK). The issuer may pay cash interest and/or interest in additional debt securities. Rates shown are the rates in effect at June 30, 2024.

(k) Fair valued by the Adviser.

(l) Security in which significant unobservable inputs (Level 3) were used in determining fair value.

(m) Non-income producing security.

(n) Affiliated investments.

(o) To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov, or call AB at (800) 227-4618.

(p) The rate shown represents the 7-day yield as of period end.

(q) As of June 30, 2024, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $10,500,111 and gross unrealized depreciation of investments was $(50,457,739), resulting in net unrealized depreciation of $(39,957,628).

Currency Abbreviations:

EUR – Euro

USD – United States Dollar

Glossary:

ABS – Asset-Backed Securities

ARMs – Adjustable Rate Mortgages

CBT – Chicago Board of Trade

CDX-CMBX.NA – North American Commercial Mortgage-Backed Index

28

CLO – Collateralized Loan Obligations

CMBS – Commercial Mortgage-Backed Securities

CME – Chicago Mercantile Exchange

REIT – Real Estate Investment Trust

REMICs – Real Estate Mortgage Investment Conduits

RFUCCT1Y – Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 Year

SOFR – Secured Overnight Financing Rate

TBA – To Be Announced

TIPS – Treasury Inflation Protected Security

29

Sanford C. Bernstein Fund II, Inc.

Intermediate Duration Institutional Portfolio

June 30, 2024 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Portfolio. Unobservable inputs reflect the Portfolio’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

• Level 1 - quoted prices in active markets for identical investments

• Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 - significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, by pricing vendors, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

30

Valuations of mortgage-backed or other asset backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of June 30, 2024:

Investments in Securities:	Level 1		Level 2			Level 3		Total
Assets:
Governments - Treasuries	$	—	$	262,792,574		$	—	$	262,792,574
Corporates - Investment Grade		—		157,513,216			—		157,513,216
Mortgage Pass-Throughs		—		153,654,168			—		153,654,168
Collateralized Mortgage Obligations		—		45,113,773			—		45,113,773
Asset-Backed Securities		—		41,857,552			—		41,857,552
Commercial Mortgage-Backed Securities		—		19,951,153			—		19,951,153
Agencies		—		12,917,975			—		12,917,975
Collateralized Loan Obligations		—		11,555,108			—		11,555,108
Inflation-Linked Securities		—		9,398,984			—		9,398,984
Local Governments - US Municipal Bonds		—		5,316,677			—		5,316,677
Emerging Markets - Corporate Bonds		—		5,027,564			—		5,027,564
Corporates - Non-Investment Grade		—		4,988,606			—		4,988,606
Quasi-Sovereigns		—		2,951,858			—		2,951,858
Emerging Markets - Sovereigns		—		706,737			—		706,737
Governments - Sovereign Bonds		—		548,448			—		548,448
Common Stocks		—		—			404,623		404,623
Short-Term Investments:
U.S. Treasury Bills		—		68,487,031			—		68,487,031
Investment Companies		19,799,425		—			—		19,799,425
Total Investments in Securities		19,799,425		802,781,424			404,623		822,985,472
Other Financial Instruments(a):
Assets:
Futures		580,309		—			—		580,309
Forward Currency Exchange Contracts		—		18,831			—		18,831
Centrally Cleared Interest Rate Swaps		—		703,173			—		703,173
Liabilities:
Credit Default Swaps		—		(121,317	)		—		(121,317	)
Total	$	20,379,734	$	803,382,111		$	404,623	$	824,166,468

31

^(a)  Other financial instruments include reverse repurchase agreements and derivative instruments, such as futures, forwards and swaps. Derivative instruments are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.

A summary of the Portfolio’s transactions in AB mutual funds for the nine months ended June 30, 2024 is as follows:

Portfolio	Market Value 09/30/2023 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 06/30/2024 (000)		Dividend Income (000)
Government Money Market Portfolio	$	2,619	$	249,915	$	232,735	$	19,799	$	204

32